Our friends over at Quantum Workplace have released a new report on 2014 trends in employee recognition that is worth a download. If you work with recognition and engagement — either as an employer or HCM vendor — here are some of the top trends we saw from the report.
Trend #1: Show Employees the Money (and More)
When employees get recognize, they consider a pay increase and cash bonuses as two of the top three important forms of recognition. Maybe employers don't want to hear it but it's true. That being said, there are other forms of recognition that rank extremely well with employees, including autonomy and flexibility, access to learning and training opportunities, and praise from managers and senior leadership.
Trend #2: Say It and Show It
When asked about the frequency of recognition, most employees felt like they were given monetary and training rewards too infrequently while they seemed to get the right amount of praise from their managers. It's one thing to say you appreciate someone's hard work and it's another to show it. Employees want employers to do both.
Trend #3: Engaged Employees Make Life Easier for Employers
Highly engaged employees worry less about compensation than their less engaged peers and generally get the right amount of recognition for the work they do. They also care less about job titles and more about learning and taking on new responsibilities. While we know even the best employees need a break, engaged employees rank time off as less important than those less engaged employees.
Trend #4: Employers Don't Always Reward Loyalty
Employers are often the first to decry the issue of an always-on-the-move workforce but their recognition patterns seem to encourage it. Those with the longest tenure often felt neglected, missing out on bonuses or other cash-based incentives and being left out when new job responsibilities are being considered.
Interested in reading the entire 50+ page report? Download it for free directly from Quantum Workplace.